Copart, Inc. (NASDAQ:CPRT) Shares Bought by MML Investors Services LLC

Posted by Defense World Staff on Feb 27th, 2023

MML Investors Services LLC raised its stake in Copart, Inc. (NASDAQ:CPRT – Get Rating) by 5.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,005 shares of the business services provider’s stock after acquiring an additional 1,303 shares during the period. MML Investors Services LLC’s holdings in Copart were worth $2,661,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SeaCrest Wealth Management LLC acquired a new stake in Copart in the 2nd quarter valued at approximately $28,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Copart by 177.4% in the third quarter. Massmutual Trust Co. FSB ADV now owns 294 shares of the business services provider’s stock worth $31,000 after purchasing an additional 188 shares in the last quarter. Glassman Wealth Services increased its holdings in shares of Copart by 163.3% during the second quarter. Glassman Wealth Services now owns 337 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 209 shares during the period. Ronald Blue Trust Inc. bought a new stake in shares of Copart during the second quarter valued at about $41,000. Finally, Private Trust Co. NA acquired a new stake in Copart in the second quarter worth about $41,000. 45.14% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Matt Blunt sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, February 22nd. The shares were sold at an average price of $69.36, for a total transaction of $2,080,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Robert W. Baird increased their target price on shares of Copart from $74.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, February 22nd. Stephens reiterated an “overweight” rating and issued a $78.00 target price on shares of Copart in a research report on Tuesday, February 21st. StockNews.com upgraded shares of Copart from a “hold” rating to a “buy” rating in a research report on Tuesday, February 21st. Finally, Guggenheim increased their target price on shares of Copart from $75.00 to $82.00 and gave the company a “buy” rating in a research report on Wednesday, February 22nd.

Copart Trading Down 0.5 %

NASDAQ:CPRT opened at $69.23 on Monday. Copart, Inc. has a twelve month low of $51.10 and a twelve month high of $70.93. The company has a 50-day moving average of $64.83 and a 200-day moving average of $61.35. The firm has a market cap of $32.96 billion, a price-to-earnings ratio of 30.77 and a beta of 1.20.

Copart (NASDAQ:CPRT – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The business services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. Copart had a net margin of 29.45% and a return on equity of 22.93%. The company had revenue of $956.72 million during the quarter, compared to analyst estimates of $934.36 million. During the same quarter last year, the firm posted $0.55 EPS. On average, research analysts forecast that Copart, Inc. will post 2.27 earnings per share for the current year.

Copart Company Profile

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Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.